BE/RBI NOTE/48/2018

RBI is in the process of setting up a digital Public Credit Registry (PCR).  This will capture details of all borrowers across the Financing system.  Let us see more details about this:

  • This wide wide-based digital Public Credit Registry (PCR) would capture loan information of individuals and corporate borrowers.
  • RBI has now invited expression of interest (EOI) for developing PSC from companies with a turnover of over Rs 100 crore in the last three years.
  • Formation of PCR is considered very important at a stage when bad loans are mounting in the financial system.
  • The overall non-performing assets (NPAs) in Indian banking system is about Rs 10 lakh crore.

Public Credit Registry (PCR)

  • PCR is digital registry of authenticated granular credit information.
  • It will work as a financial information infrastructure and will provide access to various stakeholders
  • It will thus enrich the existing credit information ecosystem.
  • It seeks to serve as a single point of mandatory reporting for all material events for each loan, notwithstanding any threshold in the loan amount or type of borrower.
  • PCR will capture all details of borrowers, including wilful defaulters and also pending legal suits in order to check financial delinquencies.
  • It will also include data from entities like market regulator SEBI, Corporate Affairs Ministry, Goods and Service Tax Network (GSTN) and Insolvency and Board of India (IBBI.
  • This will enable banks and financial institutions to get a 360-degree profile of the existing and prospective borrowers on a real-time basis.


  • It was in June 2018 that RBI had announced to set up a PCR for India with a view to
    • Address information asymmetry,
    • Foster access to credit and
    • Strengthen the credit culture in the economy.
  • This decision was taken based on the recommendations of High-level Task Force (HTF) i.e. Y.M. Deosthalee committee
  • This committee was constituted by RBI to review the
    • Current availability of information on credit,
    • Adequacy of existing information utilities and
    • Identify gaps that could arise
  • At present, there are multiple granular credit information repositories in India
  • Each repository has varied distinct objectives and coverage.
  • Within RBI CRILC is a borrower level supervisory dataset with an aggregate exposure of Rs 5 crore.
  • In India, four privately owned credit information companies (CICs) operate.
  • RBI has mandated all its regulated entities to submit Credit Information individually to all four CIC.


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